Spotlight

Indian markets are expected to trade with a cautiously positive bias, supported by encouraging developments on both the geopolitical and monetary policy fronts. Investor sentiment has strengthened after the White House confirmed that U.S. President Donald Trump has formally signed the Peace Deal Memorandum, a significant step forward in the broader U.S.–Iran peace process. The agreement is expected to facilitate the reopening of the Strait of Hormuz, easing geopolitical risks, reducing energy-market uncertainty and improving global risk appetite.

Crude oil prices remain subdued, with Brent crude holding in the $74–76 per barrel range. The sustained decline in energy prices continues to provide meaningful relief to India's inflation outlook, import bill and broader macroeconomic environment.

On the global policy front, the U.S. Federal Reserve left interest rates unchanged at 3.50%–3.75% for a fourth consecutive meeting, in line with market expectations.  The absence of any policy surprise has helped support investor confidence, while signs of moderation in foreign portfolio outflows and data showing foreign investors turning marginal net buyers in the previous session could provide an additional boost to sentiment. Continued support from domestic institutional investors is also expected to remain an important stabilising force for the market.

Technical view

Nifty 50

Nifty 50 continues to trade with a positive bias after extending its recent recovery and sustaining above the crucial 24,000 psychological mark. However, maintaining strength above this level remains essential to preserve the current bullish structure. From a technical perspective, the 24,100–24,200 zone remains the immediate resistance area. A sustained breakout above this range could reinforce bullish momentum and pave the way for a further advance towards the 24,400 region, which remains the next significant resistance level.
 
On the downside, the 24,000 psychological mark is expected to act as an immediate support level, having previously served as a major resistance. Holding above this level will be crucial to maintain the ongoing recovery trend, while a decisive break below 23,900 could trigger mild profit booking and drag the index towards the 23,800 support zone. Momentum indicators remain constructive, with the RSI hovering around 61, indicating strengthening bullish momentum while remaining below overbought territory. Overall, the near-term technical outlook remains positive. Sustained strength above 24,000 keeps the bullish structure intact, while a breakout above 24,200 could trigger the next leg of the rally. Failure to hold above 24,000, however, may lead to consolidation or mild profit booking in the near term.

Bank Nifty

Bank Nifty continues to exhibit a positive technical structure, supported by its ability to sustain above key support levels, reflecting resilience in the banking sector. From a technical perspective, the 57,800–58,000 region remains the immediate resistance area. A sustained breakout above this zone could reinforce bullish momentum and pave the way for a move towards the 58,300–58,500 region, which remains the next significant upside target.
 
On the downside, the 57,200–57,000 zone is expected to provide immediate support. Holding above this range will be crucial to preserve the prevailing positive structure and maintain the ongoing recovery trend. However, a decisive break below 57,000 could trigger profit booking and expose the index to the 56,800–56,700 support region. Momentum indicators remain constructive, with the RSI hovering near the 69 level, indicating sustained bullish momentum and continued buying strength. Overall, the near-term outlook for Bank Nifty remains positive, with sustained strength above key support levels keeping the broader recovery trend intact.